Dec 30, 2021
The Italian economy is arguably the backbone of European history. After the collapse of the Roman Empire, many Italian cities emerged as the protagonists of the European history for many decades to come, like Venice, Milan, Florence, Siena etc.
But it’s especially after the second world war that Italy finally comes back on track as a global leader.
In fact, Italy, for the past centuries has been overshadowed, to some extent, by the Spanish, French or Napolenic Empire, and by Great Britain and Germany that were too influential and powerful for Italy to rise.
In the 1960s, thanks to the Marshall plan economic aid and the war in Korea that needed a lot of steel to manufacture weapons, Italy quickly industrialized and from 1957-1960 the Italian industial complex grew by 32%.
In the years to come the Italian economy kept growing, but the high standard of living rose the public debt and Italy is now facing many issues due to its demography and some political and fiscal issues.
As of today Italy is the 8th biggest economy in the world by GDP, right behind France and India, but significantly bigger economy than Russia, Australia, Brazil etc.
The Italian economy exports many industrial products, packaged medicaments and luxurious products, like Gucci, Versace, Prada, Dolce Gabbani, Armani, Lamborghini. And it’s biggest companies are Unicredit, Intesa Sanpaolo, Assicurazioni Generali, Enel and Eni.
The Italian label ”Made in Italy” is so famous that many international companies and shady businesses use it to sell fake products like fake mozzarellas, fake coffee, fake salami, fake clothes and so on.
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